 | In a recent Identity Theft bust, at Berks County, Pennsylvania, it was reported in The Mercury, "Area men charged in identity theft scam", by Brandie Kessler, that students were charged for participating in an Identity Theft scheme. In such scheme, the students voluntarily provided their personal information, as well as debit cards, to criminals. The criminals would share some of the stolen money with the victims. In addition, the students were told by the criminals that upon reporting their cards stolen, the banks would reimburse them for the fraudulent withdrawals.
Crime has brought us insurance. Insurance, has brought us more crime. It is estimated by the Coalition Against Insurance Fraud that Insurance Fraud costs Americans at least $80 Billion annually, or nearly $950 for every family. Such losses have resulted in higher auto insurance premiums, health insurance premiums, home insurance premiums, etc.... Similarly, as Identity Theft protection measures aim to compensate victims, criminals will take advantage of such compensation measures to commit Identity Theft and file false claims.
If a measure is adopted to compensate victims of Identity Theft for value of lost time, it is reasonable to expect filings for Identity Theft to rise. Individuals who in the past did not bother filing a claim would have an added incentive to file a claim. In addition, criminals will also file fraudulent claims. In a sense, it would be ironic that a measure passed to fight Identity Theft and ease its impact on consumers, could very possibly result in an increased reporting of Identity Theft. It is very possible that when the government considers such possibility, it might very well decide that, from a public relations perspective, and to the detriment of Identity Theft victims, such measure is not favorable...
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